Timken (NYSE:TKR) Reaches New 12-Month High at $58.69

Timken Co (NYSE:TKR) shares reached a new 52-week high during trading on Friday . The company traded as high as $58.69 and last traded at $58.44, with a volume of 12619 shares changing hands. The stock had previously closed at $58.25.

A number of research firms have recently commented on TKR. Stifel Nicolaus boosted their price target on shares of Timken from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Zacks Investment Research upgraded shares of Timken from a “strong sell” rating to a “hold” rating and set a $60.00 price target for the company in a research report on Thursday, January 2nd. Bank of America upgraded shares of Timken from an “underperform” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, January 7th. ValuEngine upgraded shares of Timken from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley boosted their price target on shares of Timken from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Timken has an average rating of “Hold” and an average target price of $62.50.

The firm has a market cap of $4.36 billion, a PE ratio of 14.04, a PEG ratio of 1.49 and a beta of 1.84. The company has a quick ratio of 1.42, a current ratio of 2.57 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $55.75 and its two-hundred day simple moving average is $48.27.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.04). The business had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $945.87 million. Timken had a return on equity of 21.12% and a net margin of 8.11%. Timken’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS. On average, equities research analysts anticipate that Timken Co will post 4.72 earnings per share for the current fiscal year.

In related news, CFO Philip D. Fracassa sold 4,846 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.38, for a total value of $253,833.48. Following the completion of the transaction, the chief financial officer now directly owns 60,595 shares in the company, valued at approximately $3,173,966.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christopher A. Coughlin sold 46,813 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $53.00, for a total transaction of $2,481,089.00. Following the completion of the transaction, the executive vice president now owns 115,539 shares of the company’s stock, valued at $6,123,567. The disclosure for this sale can be found here. Insiders sold a total of 77,977 shares of company stock worth $4,145,196 over the last ninety days. Insiders own 11.58% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cozad Asset Management Inc. raised its position in shares of Timken by 0.5% in the fourth quarter. Cozad Asset Management Inc. now owns 38,821 shares of the industrial products company’s stock valued at $2,186,000 after buying an additional 174 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of Timken by 5.3% in the third quarter. Howe & Rusling Inc. now owns 5,596 shares of the industrial products company’s stock valued at $243,000 after buying an additional 282 shares during the last quarter. Creative Planning raised its position in shares of Timken by 5.0% in the third quarter. Creative Planning now owns 6,828 shares of the industrial products company’s stock valued at $297,000 after buying an additional 325 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Timken by 0.3% in the third quarter. California State Teachers Retirement System now owns 110,336 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 337 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in shares of Timken by 72.6% in the third quarter. Flagship Harbor Advisors LLC now owns 918 shares of the industrial products company’s stock valued at $39,000 after buying an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Timken Company Profile (NYSE:TKR)

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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